Hyatt Completes Great Eastern Hotel Purchase
LONDON, UK, March 24, 2006. Global Hyatt Corporation and JER Partners are closing of the purchase of London's Great Eastern Hotel from Conran Holdings and the Blackstone Group for ?150 million.
The joint acquisition between Global Hyatt and JER was announced in mid-February 2006. Upon closing the purchase, Hyatt assumed management of the Great Eastern Hotel's operations. The hotel will continue to operate as the Great Eastern Hotel through December 31, 2006 and, in January 2007, will be rebranded under the Hyatt Regency name.
Located in the City of London, the capital's financial hub, the historic, 267-room Great Eastern Hotel sits adjacent to Liverpool Street Station. Originally opened in two phases in 1884 and 1901 respectively, the stunning Victorian hotel was fully renovated and reopened in February 2000. Today, it boasts five restaurants, four bars and 12 private dining and event rooms.
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